The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.
Financial crimes watchdog AUSTRAC is investigating whether three companies in the Bell Financial Group have contravened anti-money laundering and counter-terrorism financing rules.
Aware Finance, formerly StatePlus, has been fined $20 million for charging over 25,000 customers approximately $50 million for services they did not receive.
Lawyers leading a class action against the Commonwealth Bank over its alleged money laundering compliance failures are getting their ducks in a row in the event the Full Court rules the court has the power to shut out unregistered group members from a class action.
MinterEllison has appointed former Reed Smith partner Simon Harvey to join its infrastructure, construction and property practice.
The CDPP’s decision to drop all criminal cartel charges against two banks and four individuals in a “test case” over a $2.5 billion ANZ share placement shows the ACCC “lacks expertise and objectivity” on the financial markets and should leave them to ASIC to regulate, according to one of the former accused.
In a stunning reversal, the Commonwealth Director of Public Prosecution has dropped all criminal cartel charges against two investment banks and four individuals in relation to a $2.5 billion ANZ share placement, four years after the charges were brought following an allegedly questionable investigation by the ACCC.
A court has ordered the winding up of investment manager PE Capital Funds Management, whose responsible entity Endeavour Securities has connections to collapsed financial services company Linchpin Capital.
AMP has expressed optimism that it will be able to reach a settlement with DST Bluedoor in a $35.5 million lawsuit accusing it of poaching 11 DST employees after licensing the software company’s online platform.
Forum Finance director Vince Tesoriero has lost a battle to stop receivers from selling luxury properties in which he and Bill Papas hold a stake pending the outcome of Westpac’s fraud case against him.